EBID Commits $268 M to Expand Taraba’s Power, Agriculture, and Industry

Nume Ekeghe

The ECOWAS Bank for Investment and Development (EBID) has entered into three loan agreements totaling $268 million with the Taraba State Government. The funds will support significant projects in renewable energy, agriculture, and industrial infrastructure designed to boost the state's economic growth.

Signed on June 26 at EBID’s headquarters, the agreements were formalised by Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID, and Dr. Agbu Kefas, governor of Taraba State, who was accompanied by a delegation of government officials, technical advisers and development partners.

The financing will back three key projects, beginning with $91.23 million allocated to the first phase of an integrated industrial park. The park is intended to function as a multi‑cluster logistics and manufacturing hub, drawing private investment, fostering value addition, and generating employment.

An additional $79.21 million will finance the creation of 10,000 hectares of irrigated rice paddies and a state‑of‑the‑art rice milling and processing plant, aimed at boosting domestic food production and cutting reliance on imported rice.

EBID will also contribute $98.19 million toward building a 50‑megawatt solar photovoltaic power plant in Jalingo. The plant is projected to enhance electricity supply, broaden access to clean energy, and underpin industrial activity throughout the state.

The institution says the investments align with its Growth, Resilience and Optimisation (GRO) Strategy, which prioritises projects that deliver measurable economic, social and environmental benefits across West Africa.

Donkor said: 'By investing simultaneously in industrial infrastructure, agricultural value chains and renewable energy, EBID is delivering an integrated development package with lasting regional impact. This partnership reflects our commitment to building resilient and competitive economies across West Africa.'

Kefas called the financing a major milestone in the state's development agenda.

He added: 'This financing, secured through our partnership with EBID, lays the foundation for economic transformation by strengthening industry, enhancing food security